Rackspace Hosting Inc. (NYSE:RAX) was up 2.1% during trading on Wednesday . The stock traded as high as $28.74 and last traded at $28.30, with a volume of 1,183,539 shares traded. The stock had previously closed at $27.71.

Several equities research analysts recently commented on RAX shares. Raymond James Financial Inc. lowered shares of Rackspace Hosting from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the stock from $28.00 to $25.00 in a research report on Tuesday, May 10th. Morgan Stanley reissued an “equal weight” rating and issued a $26.00 target price on shares of Rackspace Hosting in a research note on Tuesday, May 10th. Credit Suisse Group AG reissued a “neutral” rating and issued a $20.00 target price on shares of Rackspace Hosting in a research note on Tuesday, May 10th. Jefferies Group reissued a “hold” rating and issued a $21.00 target price on shares of Rackspace Hosting in a research note on Tuesday, May 10th. Finally, Wells Fargo & Co. reissued an “outperform” rating on shares of Rackspace Hosting in a research note on Tuesday, May 10th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $27.97.

The firm has a market capitalization of $3.80 billion and a P/E ratio of 26.58. The company’s 50-day moving average is $25.51 and its 200-day moving average is $23.03.

Rackspace Hosting (NYSE:RAX) last announced its quarterly earnings data on Monday, August 8th. The hosting company reported $0.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.16. The firm had revenue of $489.40 million for the quarter, compared to analyst estimates of $521.07 million. During the same period in the previous year, the business posted $0.20 EPS. Rackspace Hosting’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, equities analysts anticipate that Rackspace Hosting Inc. will post $1.07 earnings per share for the current year.

An institutional investor recently bought a new position in Rackspace Hosting stock. Matarin Capital Management LLC purchased a new stake in shares of Rackspace Hosting Inc. (NYSE:RAX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 72,759 shares of the hosting company’s stock, valued at approximately $1,842,000. Matarin Capital Management LLC owned 0.05% of Rackspace Hosting as of its most recent SEC filing.

Rackspace Hosting, Inc (Rackspace) operates in the managed cloud segment of the business information technology (IT) market. The Company offers a portfolio of integrated IT solutions for common business needs. The Company offers services for certain applications, including e-commerce and Web content management sites, business-productivity applications, such as e-mail and collaboration, and data stores.

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